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tv   Your World With Neil Cavuto  FOX News  June 1, 2012 4:00pm-5:00pm EDT

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and larry sabato on if governor romney is getting a boost. and now, chad from the investment firm. what was going on here? >>guest: you have a perfect cocktail, european malaise in the third round of that. and you have economic numbers across the globe and slowing down. and that in itself is what has kicked off the downward trend here in the equity prices and instability in the credit markets. >>neil: a lot of people say markets run to extremes and this is way overdone, and this is not typical, that they are ringing their hands prematurely. what do you say? >>guest: well, we will be stuck in trading during the next 18 months, so this is very typical. >>neil: you are talking about
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the s&p and that is close to a correction. what do you make of that? >>guest: the united states economy is slowly moving failure at 1.5 percent g.d.p. rate and you have this tremendous amount of instability particularly on european side. we are still not early innings of that malaise and that has to play out. so what you should expect to see over the coming months or weeks i should say, as the credit markets start to deteriorate you can see the ecg and the fed come in and step in with, perhaps, another easing plan. >>neil: when you talk about the european federal bang and our federal reserve giving more money to ease concerns it is looking like just more expensive band aids. >>guest: there are three ways they can work their way out and it is with the united states: grow yourself out of it. and particularly in europe they have not grown for 20 years. monetize your way out, which is
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why i suggest ecb and the federal reserve will come back in the next couple of weeks. or write off the debt. and in the united states we are doing all three. the europeans are having a dreadful time with this and because of the political fighting going on between all the different countries, that is creating that uncertainty which is going to compress multiples further down but it will create opportunity in the equity markets as well as if the credit markets, so you cannot be blind to it you is to look for the opportunity. >>neil: we will see if people do that. thank you for joining us. and then, we think we found out where investors were putting the money they were not putting in stocks, in bonds with interest rates tumbling, all time lows, the yield on ten year treasury dropping below 1.5 percent for the first time. ever. that will be were cheaper north rates but still people are not budging or buying. market watcher knows why. >>guest: well, a lot of them
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cannot qualify. if you look at the amount of deals that are not getting done in the real estate land about three in ten are getting done so you have a lot people that have a hard time qualifying. second, we have had low interest rates for 2 1/2 years and everyone that was going to refinance has refinanced by new. third, jobs market. very sticky. small businesses, highly uncertain and they are laying more people off and we have seen plant layoffs up 53 percent with one company, and we have an economy that is slowing down. we saw the manufacturing report out of dallas. and out of chicago, really poor. so, we have an economy that was degree on about five cylinders and we heard of the global concern and everyone thought the united states was doing better. over the last few months it looks like we are not and rather than running on five cylinders like we were early in the area we are only running on a couple. still moving forward. but barely.
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>>neil: contrary's -- c.e.o.'s if they see an uncertain environment they keep their wallets type like we could. they do not aggress every spend, wren they see numbers like this, job reports like this, they say, why exit cash. >>guest: they see poor sales. tapped consumers with the lowist savings rate since 2007 and the consumer incomes have not come up and no one coming in the front door, but what is worse than all of that, they see the biggest tax increase in our government's history coming at the end of this year. if they do not resolve the fiscal cliff. unfortunately, the selection is still uncertain. unclear. so, businesses have too much to wrestle with and they will not hire a bunch of new people in a leap faith. >>neil: in doubt, don't take the wallet out. not good for president obama obviously in this environment. and now to the white house with ed. how is this factoring out? >>guest: the president was on
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the road today doing fundraising but touring a facility from honeywell and he faces political heat. governor romney, he put out a statement that said this was devastating. the stock market is taking a hard hit, and, the bottom line the president was trying to say he believes european debt crisis is now casting a shadow over our economy and while he highlighted the fact there have been on the positive side, 27 months now of positive job growth he did admit it is not enough. take a listen. >> from the moment we first took action to prevent another depression, we knew the road to recovery would not be easy. it would take time. with ups and downs long the way. >>reporter: you can see the polls if battleground states shifting toward governor romney where they are in a dead heat in colorado and iowa and ohio,
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romney put out a statement that says this week has seen a cascade one bad piece of economic news after another. slowing g.d.p. growth and plunging consumer confidence and increasing unemployment claims and now another dismal jobs report all stand as a harsh indictment of the president's handling of the economy. i spoke to one of romney's aide saying the president in 2009 did one interview with he said that if he did not turn this around in a few years in his first term it would be a one term proposition and you remember the charts in remainly 2009, if they pass the st. louis by now we would be at 6 percent unemployment. obviously, we new have been over 8 percent unemployment if something like 40 months so that bottom line, it is very difficult for the president and the re-election year. they only have a few more of the jobs report between now and november to turn it around. >>neil: thank you from the white house. now, larry sabato who says this is awful news for the president. time is awasting.
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larry, we live when we go to vote, what we were seeing a few months prior. so, there is not were time to change the perception the economy is stuck in the mud. right? >>guest: very little time. look, a great moment to be a challenger to an incumbent president. governor romney basically has to sit there, reinforce his team "time for a change," especially on the economy. if the economy continues to be this anemic until we get to the general election, the conditions are there for an upset. >>neil: do you think the argument that ronald reagan used against jimmy carter, are you better off than you were four years ago, works here in because depending on your perspective, and, wreck the meltdown and all of that, that could be a mixed bag for a lot folks. it is not that black and white, or do you disagree? >>guest: no, because obviously
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the economic downturn started under bush, it started in 2007 and the economic collapse in 2008. that is why i use the slogan, it's time for a change. that is the most successful slogan in all of american history. over a dozen presidents were elected explicitly or implicitly on that slogan. so, you say, let's not fight about how this started or why it is continuing, but the fact of the matter is, this president hasn't been able to resolve it in four years and he said if he could not resolve it in four years he should be a one-term president, and it is time for a change. boom. you don't have to talk about the past. you say simply, give another guy a chance and i have a business background and i have save the olympics and the rest. that doesn't matter as much as the fact that the economy is doing poorly. and people feel it. they don't is to understand what g.d.p. is. they feel the downgrading of the g.d.p. number.
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>>neil: do you think if that g.d.p. number that showed the economy contracting in the first quarter close to 2 percent, would vice -- surprise folks and now the jobless figures show far fewer than expected folks were getting jobs the last three months, let alone one month, that the white house is really worried this is far bigger than earlier thought? >>guest: absolutely. look, they are surprised by a lot of things. they were shocked that the republican party came together as quickly and administration fully as it did for governor romney. they shocked that polls tighten the up to a tie even before the new economic numbers came out. they have been surprised that women, republican women and conservative-leaning independent women have reinforced romney's support if the polls as quickly as they have. a last things have surprised them. also, by the way, that the republicans are going to spend about as much money as the democrats once the super pac's are included they might even
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outspend president obama in ande democrats. but it is june 1, this are five jobs reports to go. there are loads of economic data that will be released between now and then. so, i caution people that what happens today will not necessarily imply what is going to happen in november. >>neil: just a snapshot in the moment. thank you, professor, good to see you. forget the job market, is president's biggest threat a guy name billed. something that pick has pat caddell wondering whose side he is really on? follow the wings.
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clinton but where is the current president? flying over the action stopping in minnesota, and illinois, completely missing wisconsin. we are not. we are headed straight this for live coverage monday and tuesday. more on that in a moment. first to milwaukee. what is going on there now? >>reporter: it is interesting because minds were made up back when people were marching around the capital and no one could be persuaded now. the focus in wisconsin in the final hours is an attempt to electrify the base and make sure your people do not stay home on election day. that is why the democrats called on bill clinton to come out here and try to electrify the crowd. he painted up the recall as a struggle with the little guy up against uncompromising tea party politicians who answer only to big money. i can hear it now, wednesday, all the people that poured all money into wisconsin, if you don't she up and vote will say, see, we got 'em now.
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>> a won on won retail politicking sun like anything i have seen before with the third party groups coming in, conservative organizations, american for prosperity has a bus tour, and they send volunteers out into the neighborhoods to knock on doors and try to persuade voters face-to-face. and you have groups operated by the unions sending vans to the poor neighbors and they pick people up at the doorsteps, drive them to the polls and them drive them back. because the passions are so deep the voter turn out is expected to be upward of 60 percent. >>neil: president clinton could be trying to help fellow democrat in wisconsin but did he give the republican presidential nominee a boost? former president clinton saying of governor romney that he has a sterling business career, one that makes him qualified for the presidency. nice words for the man rooting for the other guy? why would president clinton say
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that? pat caddell, odd, pat, odd. >>guest: well, this is, cory booker got the memo this is about hillary clinton, but, also, in 2016, but, the president has done enormous, president clinton, has done enormous damage to president obama. his appearance in wisconsin which contradicts his opposition to the recall of davis in california but he is out there fighting for the democrat and president obama is not. he is really making a case difficult for the president and on top of the chock news today, this could be the truth that june is the cruelest month of all. >>neil: it is interesting that on the bain capital thing and the private business experience, it is almost as if all of the prominent democrats talking about newark mayor and others have been saying, you know, go slow here, we don't think that is a winning issue. >>guest: there are a number of democrats who speak as democrats
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who do not want the party position where the president wants to position this against capital and against this whole issue. you have former congressman harold ford, artur davis the first outside who endorsed the president, and now defected to the republicans and a number of democrats are speaking out but bill clinton put a torpedo into the obama campaign. they doubled down on bain and on qualification and he just blew it to smithereens in the face of the disaster of the economic news. this is as bad as it gets and revenge is a dish served best cold. >>neil: is that what he is up to? he wanted president obama to lose? >>guest: i think president clinton is a man of many moods
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like muhammad ali, helps hip raise money and says the right things about obama but he can sting. this is in the first time he has drawn differences. his interest is hillary clinton in 2016, and there are many democrat would resents what the obama campaign did to the clinton campaign and no one more than probably those would love bill clinton because they feel the race card in clinton feels the race card was layed -- played on him from obama. bill clinton is not willing to abandon the centrist democratic party. >>neil: he says it all time. thank you. did anyone see this? >> guetapens.
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>>neil: okay, job well done. but can you spell kenosha, a city in wisconsin where we will be monday and tuesday, shaping up to be one of the most exciting elections of the year, pitting unions again the governor scott walker and we will be there monday and tuesday hearing from the governor and those trying to topple him and at a new time on the fox business network: 8:00 p.m. now eastern time, that's right, 8:00 p.m., a new time for our business show on the fox business network and i know a lot of you are saying, you are going up against a certain broadcast legend named bill o'reilly yes i am, and the man is petrified. before they go to the polls in wisconsin the fuss over keeping noncitizens away from the polls in florida. the justice department intervening to say "not so fast," who is in the right?
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>>neil: this is the corner of wall street and broad and a major sell off with a dow underwater on the year and a bit part of that coming today 274 points and the economy is slipping. and fast. jobs nonexistent in the latest month, all of 69,000, tens of thousands fewer jobs than we thoughts in the prior couple of months. and 8.2 unemployment rate to add to that. so, not a good day for investors, maybe not a good day for the economy. we will see. from wall and broad to the sunshine state, where florida has been working very hard for the past several positives to get noncitizens off their voter rolls and now enter the justice department sending a letter to
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florida secretary of state saying stop doing what they doing it violates the law. who right? and did florida have the power and right and legal authority to do this? >>guest: it should. and it may. and it will proceed. i have looked at the letter. the department of justice says florida and some of the counties you are part of this very small group of states and counties that have to go through certain procedures, hoops for the justice department. they have not done that. they should. because look what we are talking about: trying to make sure that citizens, only legal citizens are able to vote. remember 2000? chads? 3,000 people they have identified that should not be able to vote that should not happen in the state of florida. >>guest: i understand it should not happen in florida but the main issue --. >>neil: what happen?
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>>guest: people who should not be voting absolutely should be purged from the rolls. >>neil: what is wrong with florida trying to police this? >>guest: the justice department said we have spoken to you and you know you have to review the voting procedures because situations that happened in 2000 and prior to, regarding problems with minority voting. so, what the department of justice is saying, you can do this if we review it and find it is being acceptable and not --. >> but we are talking process over substance. really, only registered voters, own citizens should be able to vote. florida goes through the hoops and the letter is coughing their behind, trying to make sure florida does this, and if they do that, florida should be able to have their process. >>neil: but is it year, this is a pattern of the justice department intervening on
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illegal immigration issues on the side of not cracking down in arizona, here. >>guest: it sounds odd, but what they doing, they are not saying we don't want you to do this. they are saying let us review the procedure. >>neil: but you don't see what -- this is buying time. >> of course. >> of course. i understand that. >>neil: i don't have a legal degree and i figured that out. >>guest: we have to balance the fact that citizens have to vote. >>neil: that is what florida is trying to do. all they identified almost 3,000 people that should not be voting. >> the 3,000 people are people that they think have not become citizens in --. >>neil: what is wrong with them --. >> what we don't know is --. >> wait. we don't know it was in the last 18 years of any of the 3,000
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people have become citizens so --. >>neil: all i know every state every locality, could you just, sorry, could you -- every state that has tried this nonsense it seems odd that the federal government intervenes and says "not so fast," i think that is weird. all and a november election so they are going to make this go longer? here is the problem. if they detain state of florida says can you not do this and by the time florida goes through all the process, does that, then they do not have time to figure out whether the 3,000 people are legal or not. >>guest: they should have done this. >> okay. okay. >> a mistake. come on. >> 90 days from the election they should have done this. >> you are fine with people not citizens voting. >>guest: i am fine where florida following the rules. >>neil: thank you, guys, very
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it's about keeping the food particles out. [ charlie ] try zinc free super poligrip. >>neil: the job market is slumping and graduation cops flying and congress is slumping. >> 30 bills sitting in the united states senate. why not pick up the bills and pass them and help the american people? >> republicans will say they sent 30 bills over to the
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senate, they sent 30 pieces of "message," over to the senate. we don't need 30 emergency bills we need one good bill. >> the news today is 3 1/2 years later the president's policies are still failing. the gridlock and lack of substantive agenda being pursued by our republican colleagues. >> why care what side you are on, we are in a f here but questt
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force the senate to pass. >>neil: i don't think a lot of the americans know the process. >>governor huckabee: they don't. >>neil: so they see republicans attacking and that could be a smart strategy and there is a process where the house will offer bills and the senate rejects but do you think given congress' approval rating
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which made clinton's look like abraham lincoln, that is a risky vat -- risky strategy? >>governor huckabee: there is a risk but they have to distinguish between the generic congress and the republican congress. they only have half of congress. they do not have the senate. the democrats do. they have to say if we had the senate you would not have obamacare, you would have a budget, we would start curtailing spending and a is where they go to make this work. >>neil: what is your sense on the economic news we have been getting? it has been accelerating and this job report confirms it and some predict another recession. >>governor huckabee: it is scary when you see the numbers because the economists predicted 220,000 jobs and now 69,000 jobs. i have concluded economists are wrong 100 percent of the time in what they predict but they are
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still economists. i should become an economist. it is the only job you can be wrong 100 percent of the time and you are still asked for advise. >>neil: but we have a trend that ain't good. and the art for the obama administration has been the numbers are stabilizing and stressing today this was a month of job gains not losses and there have been 20 some odd months those. >>governor huckabee: it doesn't matter. if you are not employed try now as roughly 25 million members are not, you don't care the excuses or what the numbers are. you know whose numbers you care about? yours. if you have less expendable income that a year ago, obama is in trouble. what the republicans 10 to do is to remind people that it is not what the big picture of the economy is, but the little picture that you live in, and the beg question i think republicans ought to raise is
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this: if you have $100,000 that you won in the lottery and you can invest it and put it in someone's hands to manage it for you, would you let president obama manage your $100,000 or mitt romney? who would you let manage the windfall? the answer would probably be very good for the republicans. >>neil: if people were not sure, people like me, they could give it to me. >>governor huckabee: and they would not have it before and they would not have it after. >>neil: what do you have tomorrow? >>governor huckabee: the anniversary of the big decision back in 1964, actually, today, prayer and bible reading, and the son of madeleine murray o'hare will be there and how his mother wanted him dead because he converted. a powerful show. and former governor of wisconsin, current senate candidate talking about the very interesting situation in
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wisconsin and the election. >>neil: so he rubs it in. all right, governor, thank you, as always. to another kind of storm, hurricane season is there. but where are the hurricanes going to hit? let's just say if you are in a populated area, a really populated area, new jersey ... get out! hey! you guys are great. and if you got your home insurance where you got your cut rate car insurance, it might not replace all this. [ electricity crackling ] [ gasping ] so get allstate. you could save money and be better protected from mayhem like me. [ dennis ] mayhem is everywhere. so get an allstate agent. are you in good hands?
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that's good morning, veggie style.
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hmmm. fohalf the calories plus vgie nutrition. could've had a v8. >>neil: hurricane season officially kicking off today but is the real scare not how many of the storms hit but where they will hit. and now, joe, i apologize last time we spoke, we had break news, and we missed that opportunity. heard about the predictions, but getting long in the tooth to miss populated area, new jersey emergency and other coastal areas are due to a big one. what do you say? >>guest: well, i agree 100
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percent and i am amazed that the east coast has not been hit in a more vigorous fashion over the past several years. first thing you want to say, the folks last year trying to use irene as an example of global warming they are either frightingly ignorant or they know and they are lying about it. if we go to the maps here, almost looks like a railroad track of great storms up along the eastern seaboard between 1938 and 1960 we had six major hurricanes come up the eastern seaboard and 38 brought 15' to providence,ry and 50' wave not hamptons and 44 hurricane destroyed the boardwalks in virginia beach through atlantic city, new jersey, and 156 miles per hour wind and the sisters of 54, all major hurricanes hitting the united states, and, then, donna, hurricane force winds
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from florida, all the way up the eastern say board, a who's who of major hits and we are in that type of climate cycle. this particular year, folks, you will probably not see the big long track storms from africa. instead, what is more likely is in close development where like we saw with alberto where innocuous systems spin up, we can see one in the gulf of mexico between the 8th and 22nd of june. >>neil: but the very populated areas, what would make people think they are ripe for that now? >>guest: well, we are in the same cycle of the 1950's, the pacific cooling down. the atlantic is still warm. you can see not 30's and 40's and 50's wev the pacific and atlantic, and when the pacific started to cool not late 1940's and 50's it shifted to the eastern seaboard
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and we have a map of the 1950s with nine major hurricanes between 1951 and 1960 and in 1954 and 1955, six hurricanes hit the united states coast from north carolina, north, and five of them major hurricanes. so, the moral is if you are in a similar pattern you will get similar results and the east coast is long overdue and it will not be global warming when you hear that, you know someone is being ignorant or they are lying. >>neil: joe, thank you. i think. nancy pelosi is blasting business again but should she look at washington, first?? they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right,
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>>neil: did any of you catch
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the nancy pelosi comments? >> it is 2012. 2012, everybody. what are we talking about, women getting paid less? and, yet there seems to be a decision somewhere in some companies in parts of our economy that is an okay thing to do. >>neil: that rotter -- reporter asked the minority leader about another report show that senate democrats pay women less. >> i cannot speak to what the senate does. it is, needless to say it is another world. >>neil: and the reporter who asked the question raising the hypocrisy, that was her way to shut you up. >>guest: definitely. this is democrat strategy, do as i say not as i do.
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>>neil: but she threw harry reid under the bus? >>guest: she said talk to senate. that is a different world. and what is so funny if you look at the salary of pelosi staff members her female staff members get paid $26,000 less on acknowledge than her male staffers. >>neil: $26,000 less? >>guest: $26,000 less. you hear liberals saying, you know, there is this huge income back that is about 23 percent, well if you look at the income gap in her office it is 27 percent, so this is just pure hypocrisy. >>neil: how does that happen? the latest in the least pay? >>guest: it is what it is. there was a report that shows the numbers and she has nothing to say about it, nothing to say about the fact that senate democrats are paying their see mail staff members less than the mail staff members. >>neil: do as we say. but you raise the point it does not get much coverage. >>guest: not at all, because
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it is pure hypocrisy. if you, you need to practice what you preach. right? if she believes in income he quality why not have it in her office but she has women getting paid less than others and he is saying that companies in the private sector need to be doing, having the same situation. >>neil: but that is a bigger differential than the private sector? >>guest: exactly. exactly. right now it is 23 percent and in the private sector, but her office is 27 percent. this is this income again that is there but it is not such income gap as it is hours worked. women work less than men because they take care of children. >>neil: you saying men do not care about kids. >>guest: i am not saying that. >>neil: kidding. kidding. kidding. and michelle will join us on our week business live, and will be a special guest. a good guest.
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careful i will watch and pray. and from new hampshire: congratulations, you give hope to fat ugly ands therer men everywhere, if you work hard enough and study long enough, you too, can get all the girls to turn you down for dates. dorks of the world salute you. >> and another, my husband and i fox business network at 8:00 p.m. and now we can watch lou dobbs and energy two hours of smart discussion. brilliant programming. >> tell me why i should switch from o'reilly to you. i will not be selling doormats. joke. joke. all from next i do welcome this move, you go, man. >> donnie in new jersey, you are too nice, hate to break it to you, at that hour guys like you are eaten alive.
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are you seriously saying someone can outeat me alive or otherwise? really? and sandra, i don't like you, per. even if you were the last tv she on the planet i would rather stick my head in the blender than watch a minute of you on tv you are that awful and thattingly. i suspect you are really bill o'reilly. and another, i have always thought you should be in prime time, so more people could get a chance to see you but i do love bill. what do i do? >> use the dvr or break yourself if slowly and click to me during the commercials. he won't mind. and kevin: i know the factor, and i love the factor after all these years it is a friend of mine. >> news alert, you are not factor, ain't watching. >> i am betting you will, kevin, i bet you will. >> from washington, dc, the broadcast is littered with those
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who try to take on bill so that makes you stupid. well you are stupid to. >> and another, last year stop for neil cavuto, i give you a couple of months and you are off to dairy queen asking customers if they want chocolate or vanilla? >> from rochester, new york, after watching you with ford, no matter how different your fox business network show was i would think i just saw you but a 78-year-old guy now i will probably think it is the next day and you are on again. i will watch. what time again? 8:00 p.m. tomorrow. fox business network. a lot of kidding. about what some of you call suicidal move to 8:00 p.m., that, maybe, maybe, but the way i lock at it i am not trying to take over the news world but give you something that has been missing, a sense of the business world. now, bill is a giant he tell me that all the time but she a gentle giant which is why he wanted me to remind you that you are perfectly welcome to look in on my show during his commercial
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break and see what i am doing. what bill does not know is that once you do, you will not switch back. kidding. but i am not kidding about this, we mean business at 8:00 p.m. and starting monday i will prove it to you, like from wisconsin for the big recall vote, it is a defining moment for unions and a governor trying to bring them in. that governor is joining me, then, and i think it is worth looking in, then, we are like, and i program you it will be lively, 8:00 p.m. on fox business network if you don't get it even the factor is saying you is to watch it, or at least some of it. he didn't say that, but i am sure he means it. did any you see this, by the way?
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>>neil: ring a bell? it did with us, too, the fox business network schedule, we are not the fantastic four. and we don't have superpowers. well, i do, but i am modest about it but the fox business network new prime timelineup that kicks off on monday is fantastic. we have melissa francis at 5:00, and gerri willis at 6:00, and lou dobbs at 7:00, yours truly at 8:00 and i know you are wondering, which of the fantastic four would you be, neil cavuto? i am not one to take favors and i wonder of all the characters they made jessica albo insurprisible but that was stupid i would be the thing. lou and i were fighting who would be thing, that would be me. we mean business on monday. check out the other business guys at that hour, and you know what they are doing?
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reruns of specials that ran years ago the you don't get fox business network? demand it. >> do you give them the business? start bringing the business in. bring the business in. bring the business in. >>neil: at 8:00 p.m. >> this is the five! welcome, everybody. i hate to be the bearer of bad news, especially on a friday. but there is no hiding from today's free fall in the american economy. thanks to a dismal jobs report released today, the. employment rate jumped to 82%. under employment. and 776,000 more women are unemployment line today unpresident obama

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